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#1 KMKM

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Posted 20 December 2011 - 11:26 PM

Hi,

Am first time buyer (no chain) and good finances/25% deposit.

Have put in an offer of 250k for a 2 bedroom property in a gated block in Snaresbrook that was listed @ 290k. This has been rejected by the agent.

Think the property is nice but there is a high service charge (3200 p.a) and kitchen/few other bits need doing.

Know its difficult to say but does an offer like this look 'too low'?
Do agents ever come back to you on a property if an offer has outright been rejected?
Does anyone here have any experience of Snaresbrook as an area and what the property market is like there, especially at the moment

Many thanks

#2 the_duke_of_hazzard

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Posted 21 December 2011 - 12:00 PM

What's the rental on such a place?

#3 barbarossa

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Posted 22 December 2011 - 03:02 PM

Snaresbrook is a very nice area. You've got quite a lot of choice for your budget, especially in neighbouring - and equally nice - Wanstead.

Leytonstone is just down the road, and has improved in leaps and bounds (two gastropubs!) in the last couple of years. You can still (just about) get a whole house in Leytonstone for 250K.

#4 worried1

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Posted 22 December 2011 - 03:39 PM

I'd hold out at 250k. The place is slightly above that 260-275k range that the vendor only expects to get 250k, but not by much.

The agent is probably advising the vendor that there will be a rush of buyers once the Christmas break is over. This is traditionally how it works, but most people would agree it is unlikely to bethe case in 2012!

#5 Fancypants

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Posted 22 December 2011 - 05:44 PM

Snaresbrook is a very nice area. You've got quite a lot of choice for your budget, especially in neighbouring - and equally nice - Wanstead.

Leytonstone is just down the road, and has improved in leaps and bounds (two gastropubs!) in the last couple of years. You can still (just about) get a whole house in Leytonstone for 250K.


can you really? I've been looking in Leyton, and 3beds with gardens in livable condition, not scummily located, are asking toward 300k. I suppose the issue here is really about finding that special seller who will take the bait at 250k. Patience is probably the key.
"when your prize possessions start to weigh you down, look in my direction, I'll be round..."

#6 barbarossa

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Posted 28 December 2011 - 06:25 PM

Fancypants - I keep an eye on prices 'cos we're planning to move up North in a year or two. 250k houses are increasingly rare (usually 2 beds) but they're out there. Pushing 300k is more typical these days - been told it's due in part to buyers who've been priced out of Hackney and Tower Hamlets.

#7 KMKM

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Posted 30 December 2011 - 10:52 PM

Barbaross,

What about a nice 2bed flat is snares brook. you think 250k is realistic?

tx

#8 barbarossa

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Posted 02 January 2012 - 10:41 PM

KMKM - have a look around at what else is available for that money or less. You could be surprised. I have to declare that I can't really give any advice other than that, but good luck.

#9 idonex

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Posted 11 January 2012 - 03:08 PM

Snaresbrook is a very nice area. You've got quite a lot of choice for your budget, especially in neighbouring - and equally nice - Wanstead.

Leytonstone is just down the road, and has improved in leaps and bounds (two gastropubs!) in the last couple of years. You can still (just about) get a whole house in Leytonstone for 250K.



#10 idonex

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Posted 11 January 2012 - 03:19 PM

Not sure what happened there, stupid iPhone client. Anyway, whilst I agree somewhat with the above regarding Leytonstone I still wouldn't buy there and wish i hadn't. It's still a dump with nothing of any consequence in the centre. There is the Red Lion now, not sure where the 2 nd gastropub is but I doubt the red lion will be there for long given the local clientele still seem to prefer Witherspoons and bullet holes. We moved there because my gf insisted on being in e London still and hackney is now too expensive. If you love pound shops and fried chicken youll love it here.

That being said if your young and aren't relying on local service like schools and don't mind always going out somewhere else for fun then you can get a crap house in the crap areas for 250. Nice house in the nicer bits are still 300-325 although I have noticed prices are dropping which is nice. Unless you just bought here.....and I think they'll probably keep dropping once he Olympic site becomes the worlds biggest council estate

#11 SHERWICK

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Posted 11 January 2012 - 07:15 PM

If you love pound shops and fried chicken youll love it here.


:blink:
:unsure:
:huh:
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#12 righttoleech

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Posted 11 January 2012 - 08:09 PM

:blink:
:unsure:
:huh:

paradise if you like halal chicken

#13 SHERWICK

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Posted 11 January 2012 - 10:16 PM

paradise if you like halal chicken


:ph34r: <- dons burkha
The mighty neo liberal steam roller that crushed all before it from the 1980s to the beginning of the new millennium has morphed in recent years into a Charlie Carioli clown car that now can not go two yards without loud bangs, smoke pouring out of the engine and the doors dropping off. (by stormymonday_2011, posted amidst the Barclays Libor crisis on 02/07/2012)

Polster: why did you vote labour?
Labour voter: because I hate Margaret Thatcher
Polster: how old were you when she left Downing st?
Labour voter: 3
(by Robo1968, posted 10/05/2010)

From BBC HYS 15/05/2009:
"Last year, my MP's second home claim was 5,000 more than my total salary and now I find out that he's trying to charge me for cleaning his swimming pool!"

"Whatever your argument it's wrong." bendy, 21/02/2014

#14 Fancypants

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Posted 16 January 2012 - 11:40 PM

Not sure what happened there, stupid iPhone client. Anyway, whilst I agree somewhat with the above regarding Leytonstone I still wouldn't buy there and wish i hadn't. It's still a dump with nothing of any consequence in the centre. There is the Red Lion now, not sure where the 2 nd gastropub is but I doubt the red lion will be there for long given the local clientele still seem to prefer Witherspoons and bullet holes. We moved there because my gf insisted on being in e London still and hackney is now too expensive. If you love pound shops and fried chicken youll love it here.

That being said if your young and aren't relying on local service like schools and don't mind always going out somewhere else for fun then you can get a crap house in the crap areas for 250. Nice house in the nicer bits are still 300-325 although I have noticed prices are dropping which is nice. Unless you just bought here.....and I think they'll probably keep dropping once he Olympic site becomes the worlds biggest council estate


I ain't too snotty about it - I quite like aspects of the area. Certainly, for zone 3 London with such quick access to the City, West End, Canary Wharf, and Epping Forest you won't find anywhere so affordable. Anyway, each to their own, but so far as prices are going I guess it shouldn't be surprising to see two different outlooks from two people with seeming different VIs ;)

Having observed the area very closely for the best part of a year now, I'm pretty certain that prices aren't doing much either way - and there's very little activity. Obviously its horrendously over-priced but where isn't? My own view is that its good value *relative* to the other options.
"when your prize possessions start to weigh you down, look in my direction, I'll be round..."

#15 barbarossa

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Posted 17 January 2012 - 04:22 PM

Not sure what happened there, stupid iPhone client. Anyway, whilst I agree somewhat with the above regarding Leytonstone I still wouldn't buy there and wish i hadn't. It's still a dump with nothing of any consequence in the centre. There is the Red Lion now, not sure where the 2 nd gastropub is but I doubt the red lion will be there for long given the local clientele still seem to prefer Witherspoons and bullet holes. We moved there because my gf insisted on being in e London still and hackney is now too expensive. If you love pound shops and fried chicken youll love it here.

That being said if your young and aren't relying on local service like schools and don't mind always going out somewhere else for fun then you can get a crap house in the crap areas for 250. Nice house in the nicer bits are still 300-325 although I have noticed prices are dropping which is nice. Unless you just bought here.....and I think they'll probably keep dropping once he Olympic site becomes the worlds biggest council estate



The second gastropub is the North Star on Browning Road - although 'gastropub' is probably the wrong term for a traditional boozer. They've just got in a professional chef to compete with the Red Lion, which has been a rip-roaring success according to owners Antic, who consider it their best-ever launch. The Red Lion has a more or less completely ABC1 demographic, all locals who until now had been spending their money in Wanstead or the West End. The Red Lion is just one facet of change - there are others; The Olive, and The Stone Space being another two. The houses in the streets between Cann Hall and Harrow Roads are being smartened up one by one and the council is spending on the 'public realm' on the High Road and Cann Hall Roads. Basically, what we're seeing here is what happened in Stoke Newington 15 or so years ago. These things take time. The Queen Elizabeth Park will be another huge asset to the area when it opens. But, yes - I do wonder about who will be living in the Athlete's Village.

Having said that, there's barely a shop on the High Road worth visiting at the moment, and the area between the Cathall Estate and Leyton Tube is an absolute toilet.




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